The global hydrogen peroxide market was pegged at 4,944.8 Kilo Tons in 2018, exhibiting a CAGR of 3.4% over the forecast period according to Global Hydrogen Peroxide Market Report, by Product Type (35% Hydrogen Peroxide, 50% Hydrogen Peroxide, and Others), by Application (Paper & Pulp, Textile, Chemical Synthesis, Wastewater Treatment, Personal & Home Care Products, Food, and Others), and by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa), published by Coherent Market Insights.
One of the major advantages of using hydrogen peroxide over other oxidizing agents is its non-polluting nature. The only reaction by-product is water. Hydrogen peroxide used as an oxidizing agent, reducing agent, for synthesis of organic & inorganic peroxides and addition compounds. As hydrogen peroxide is a strong reactive chemical, it should be packed and handled carefully. Hydrogen peroxide is usually delivered in small containers, intermediate bulk containers or in bulk quantities by rail tankers.
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Browse 70 market data tables* and 45 figures* on "Hydrogen Peroxide Market” - Global forecast to 2027.
Key Trends and Analysis of the Global Hydrogen Peroxide Market:
- Among end-use industry, paper and pulp segment held dominant position in the hydrogen peroxide market in 2018. In the paper and pulp industry, hydrogen peroxide is used as a bleaching agent. It is used in mechanical pulp bleaching, chemical pulp bleaching sequences, and in paper recycling. Hydrogen peroxide helps in development of optical properties in the manufacturing of mechanical pulps such as alkaline peroxide mechanical pulp, stone wood ground pulp, and others. In addition to this, hydrogen peroxide is also an important chemical in total chlorine free bleaching process. It helps in ensuring higher degree of brightness and also helps in minimizing the impact of waste. Hydrogen peroxide is also widely used as a bleaching agent in the pulping stage of recovered paper.
- Wastewater treatment segment is expected to witness consistent growth during the forecast period and is estimated to account for around 10% of the hydrogen peroxide market share in terms of value. Hydrogen peroxide helps in reducing negative impacts on the environment and is therefore, used in the process of wastewater treatment. For wastewater treatment, advanced oxidation process is widely adopted. The oxidation power of hydroxyl radicles is used in the process, as it helps in the decomposition of toxic substances and in increasing biodegradability. The main component of this process is hydrogen peroxide, which is a major source of oxidizing species. Thus, the use of hydrogen peroxide in the process of wastewater treatment helps in refining the effluents and wastewater from pharmaceutical & chemical facilities and municipal aqueous waste.
Key Takeaways of the Market:
- Asia Pacific accounted for the largest market share of 44.9% in 2018 in the global hydrogen peroxide market. High demand for hydrogen peroxide and high presence of manufacturers are the two key factors driving growth of the hydrogen peroxide market. The production of hydrogen peroxide in China accounted for around 70% of the total hydrogen peroxide capacity across the globe in 2018, owing to over 50 hydrogen peroxide manufacturers in China. Increasing demand for various chemicals worldwide and rapidly expanding chemical industry is expected to result in rising demand for hydrogen peroxide over the forecast period.
- Key players operating in the global hydrogen peroxide market include Arkema S.A., Evonik Industries A.G., Solvay S.A., Mitsubishi Gas Chemical Company, Inc., Kemira Oyj, Thai Peroxide Limited (TPL), Taekwang Industrial Co., Ltd., PeroxyChem LLC, Hansol Chemical, and Nouryon among others
- Key players in the market are expanding their production capacities to strengthen their position in the regional market. For instance, in 2019, Evonik Industries A.G. announced plans to expand company’s hydrogen peroxide production capacity by 50% in Antwerp, Belgium by end of 2020.